To The Moon

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The cleantech market is a very broad and large field, encompassing renewable energy sources like wind and solar, battery technology for electric cars and large-scale energy storage systems, agricultural technology, water and air purification systems, building environmental technology, carbon capture, and green hydrogen, to name a few.

As a result, picking stocks in the US clean energy market can be a real headache. But there's an easier way - investing in clean energy exchange-traded funds (ETFs). Compared to investing in individual stocks, clean energy ETFs can significantly reduce the risk of stock selection and achieve diversification in one fell swoop.

Here are the top 5 largest US clean energy ETFs in 2024 based on total assets (data as of February 29, 2024):

1.iShares Global Clean Energy ETF

Total Assets: $2.477 billion

$iShares Global Clean Energy ETF(ICLN)$ has been around since June 24, 2008, holding a mix of domestic and international stocks. Some analysts even consider it a great "satellite holding."

The top three holdings of ICLN are $Enphase Energy(ENPH)$ with a 8.81% weighting, $First Solar(FSLR)$ with 7.64%, and $NEXTracker Inc(NXT)$ with 4.93%.

2.First Trust NASDAQ Clean Edge Green Energy Index Fund

Total Assets: $837 million

$First Trust NASDAQ Clean Edge Green Energy Index Fund(QCLN)$ has been in the game since February 14, 2007. It invests in companies across different green energy segments like biofuels, solar, and advanced batteries.

The top three holdings are $ON Semiconductor(ON)$ with an 8.83% weighting, $First Solar(FSLR)$ with 7.75%, and $Tesla Motors(TSLA)$ with 6.93%.

3.Invesco WilderHill Clean Energy ETF

Total Assets: $366 million

$Invesco WilderHill Clean Energy ETF(PBW)$ has been around since March 3, 2005. It focuses on clean energy companies that adopt green and renewable energy sources and technologies.

The top three holdings are $NEXTracker Inc(NXT)$ with a 2.37% weighting, $Solid Power, Inc(SLDP)$ with 2.12%, and $American Superconductor(AMSC)$ with 2.08%.

4.ALPS Clean Energy ETF

Total Assets: $230 million

$ALPS ETF Trust(ACES)$ was launched on June 29, 2018. This ETF primarily invests in North American companies. The top three holdings are $Enphase Energy(ENPH)$ with a 6.13% weighting, $Itron(ITRI)$ with 5.90%, and $Albemarle(ALB)$ with 5.75%.

5.SPDR S&P Kensho Clean Power ETF

Total Assets: $214 million

$SPDR S&P Kensho Clean Power ETF(CNRG)$ made its debut in October 2018. With 51 stocks under its belt, it focuses on innovative clean energy companies in solar, wind, geothermal, and hydroelectric power.

The top three weighted stocks are $NEXTracker Inc(NXT)$ with a 3.71%, $Constellation Energy Corp(CEG)$ with 3.37%, and $General Electric Co(GE)$ with 3.13%.